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Malaysia supports financial cooperation between the two countries, he said, adding that Malaysia is willing to work with China to promote relations and cooperation between ASEAN and China.

He suggested they make greater efforts to study new patterns and trends in the global economy as well as how to balance stable growth and restructuring, push forward supply-side structural reform, promote structural upgrades and enhance competitiveness through continued innovation.

The CPEC is part of the initiative on the construction of the Silk Road Economic Belt and the 21st Century Maritime Silk Road (the Belt and Road Initiative), which was proposed by Chinese President Xi Jinping in 2013. It is aimed at building a trade and infrastructure network connecting Asia with Europe and Africa along the ancient Silk Road routes.

Yang applauded the development of China-Russia comprehensive strategic partnership of coordination, calling for closer communication to carry out the important consensus reached by the two countries' leaders.

The priorities of future cooperation could focus on the implementation of the Belt and Road Initiative and policy aligning, Xi said.